iBio Announces First Agreement for Fill-Finish Services
June 19 2019 - 08:00AM
iBio, Inc. (NYSE AMERICAN:IBIO) (“iBio” or the “Company”) today
announced the activation of its new cGMP sterile fill-finish
services operation via the signing of a supply agreement with a
clinical-stage biopharmaceutical company developing breakthrough
gene and cell therapies (the “Customer”).
Earlier in June, iBio introduced its new cGMP
sterile fill-finish capabilities for pharmaceutical products,
including monoclonal antibodies, viral vectors and other biologics.
Focused initially on clients with preclinical and clinical stage
programs, iBio’s fill-finish operation is housed in the Company’s
135,000 square foot CDMO facility located in Bryan, Texas.
Pursuant to the supply agreement, iBio will
formulate and fill clinical research quantities of one of the
Customer’s investigational therapies into sterile vials for use in
a planned late-stage clinical trial. The Customer’s identity will
be disclosed at the time and in the manner consistent with the
Customer’s own disclosure practices.
“Shortly after our fill-finish services launch
at BIO 2019, this first supply agreement with an emerging leader in
the gene and cell therapy space was established. While we expect
our new fill-finish capabilities will also be attractive to our
end-to-end CDMO services clients, this first agreement was secured
as a stand-alone project and helps validate our ability to work
with a variety of cell-based and other biopharmaceutical products
in different formats,” said Robert B. Kay, iBio’s Chairman and
CEO.
About iBioiBio is a global
leader in plant-based biopharmaceutical contract development and
manufacturing services. With iBio’s FastPharmingTM
protein expression and glycan engineering technologies,
consistently high-quality biologics can be produced rapidly in
plants using automated hydroponic systems at iBio CDMO, LLC in
Bryan, Texas. In addition to cGMP contract manufacturing, iBio also
offers process development, bioanalytical, and fill-finish
services, along with factory solutions for the design and build of
facilities for plant-made biopharmaceuticals. For more information,
visit www.ibioinc.com.
FORWARD-LOOKING
STATEMENTSSTATEMENTS INCLUDED IN THIS NEWS RELEASE RELATED
TO IBIO, INC. MAY CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE
MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
SUCH STATEMENTS INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES SUCH AS
COMPETITIVE FACTORS, TECHNOLOGICAL DEVELOPMENT, MARKET DEMAND, AND
THE COMPANY'S ABILITY TO OBTAIN NEW CONTRACTS AND ACCURATELY
ESTIMATE NET REVENUES DUE TO VARIABILITY IN SIZE, SCOPE, AND
DURATION OF PROJECTS. FURTHER INFORMATION ON POTENTIAL RISK FACTORS
THAT COULD AFFECT THE COMPANY'S FINANCIAL RESULTS CAN BE FOUND IN
THE COMPANY'S REPORTS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION.
Contact:
Stephen KilmerInvestor Relations(646) 274-3580
skilmer@ibioinc.com
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